Review of the Aunit coin

Dear Medium readers,

We continue to monitor several cryptocurrency pairs that include the Aunit coin.
Last week, in terms of fundamental events, the coin had been behaving quietly. No loud events, which could be reflected in the chart, such as sharp jumps, or fluctuations had ever taken place. Let’s review each pair in details.

Cryptocurrency pair Aunit/Usd

The previous review mainly focused on the probability of building a double bottom as well as the goals that would be achieved if the double bottom is formed. As a result, no double bottom has been ever formed, at least at the time when I am writing this review. There is a low probability that the pattern will be built, but it will no longer have a flawless shape, at least on the daily frame. For the bigger frames, the situation described in my previous review can still work, but it will take more time. The potential double bottom is indicated on the chart with green.
In addition, in the previous review, the second low of the double bottom, which could be built, was under question. At the moment, the Low corresponds to the previous Low around the support area ​​0.00300. In this case, location of Low point is important, because it confirmed support at 0.00300, which will be described later.
As for the potential resistance of the double bottom, it corresponds to the horizontal level at 0.00430. The horizontal resistance was confirmed by the second Low, which determined the possible type of double bottom, which will also be horizontal, if the price moves up in the very near future.
What if there is no double bottom? Since the horizontal support i at 0.00300 and a horizontal resistance is at 0.00430, the cryptocurrency pair is in the flat. The double bottom is only able to give confidence to bulls if we encounter a breakthrough of the resistance 0.00430. In fact, gradually a double bottom can turn into a flat channel.

There is a possibility that another line will work for some time. In particular, we are talking about trend resistance. Don’t use it for sales; you can try it for purchases, but we are not certain how it will work. If happens this way, the price will be clamped between the support 0.00300 and the trend resistance for some time before it breaks through, or until the breakout of horizontal support. There are also interesting options here, but they will be considered if the price makes a third rebound from the trend resistance. At the same time, if the pair forgets about this line, then we will forget about this option, too.

Cryptocurrency pair Aunit/BTC
As usual, this currency pair has lower volumes, at least for now, but trading has always been stable here and there are some interesting options as well. The first one is within the range 0.00000400–0.00001300. The range is still between the two extreme points, but so far there is no confirmation that these points work. There is a level 0.00001000 within the range. This level can be used for purchases around the support area ​​0.00000400.

Within this range, a double peak with a rebound from the resistance 0.00001000 can be a scenario. If this event takes place, the pair will work at ​​0.00000400 and the confirmed resistance 0.00001000 will emerge on the chart. However, the level can serve only as the reference point for the price and you can use this line for this purpose without confirmation. If the local Low or double top breaks through 0.00000680, then we can go to 0.00000400. Otherwise, we’ll remain within the range (680–1000) and work anticipating a breakthrough in any direction.

Thus, despite the short record of the coin on the exchange, it is possible to carry out technical analysis in a quite easy and accurate way.

I wish successful trading to everyone,
Regards